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REGISTERED NUMBER: 12273641 (England and Wales)










Unaudited Financial Statements

for the Period 1 November 2021 to 31 March 2023

for

DV-OLA Properties Ltd

DV-OLA Properties Ltd (Registered number: 12273641)






Contents of the Financial Statements
for the Period 1 November 2021 to 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DV-OLA Properties Ltd

Company Information
for the Period 1 November 2021 to 31 March 2023







DIRECTOR: D Olaoye





REGISTERED OFFICE: 24 Pond View
Darlington
Co. Durham
DL1 1LD





REGISTERED NUMBER: 12273641 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Oaklea House
46 Coatham Road
Redcar
TS10 1RS

DV-OLA Properties Ltd (Registered number: 12273641)

Balance Sheet
31 March 2023

2023 2021
Notes £    £   
FIXED ASSETS
Tangible assets 3 115,316 82,088

CURRENT ASSETS
Cash at bank 467 215

CREDITORS
Amounts falling due within one year 4 (23,268 ) (23,209 )
NET CURRENT LIABILITIES (22,801 ) (22,994 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

92,515

59,094

CREDITORS
Amounts falling due after more than one year 5 (59,568 ) (59,568 )

PROVISIONS FOR LIABILITIES (7,210 ) (845 )
NET ASSETS/(LIABILITIES) 25,737 (1,319 )

CAPITAL AND RESERVES
Called up share capital 11 1
Fair value reserve 7 30,737 -
Retained earnings 7 (5,011 ) (1,320 )
25,737 (1,319 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

DV-OLA Properties Ltd (Registered number: 12273641)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 February 2024 and were signed by:





D Olaoye - Director


DV-OLA Properties Ltd (Registered number: 12273641)

Notes to the Financial Statements
for the Period 1 November 2021 to 31 March 2023

1. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - in accordance with the property
Computer equipment - 25% on reducing balance

TAXATION
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2021 - NIL).

DV-OLA Properties Ltd (Registered number: 12273641)

Notes to the Financial Statements - continued
for the Period 1 November 2021 to 31 March 2023

3. TANGIBLE FIXED ASSETS
Freehold Computer
property equipment Totals
£    £    £   
COST OR VALUATION
At 1 November 2021 81,000 1,488 82,488
Revaluations 33,500 - 33,500
At 31 March 2023 114,500 1,488 115,988
DEPRECIATION
At 1 November 2021 - 400 400
Charge for period - 272 272
At 31 March 2023 - 672 672
NET BOOK VALUE
At 31 March 2023 114,500 816 115,316
At 31 October 2021 81,000 1,088 82,088

Cost or valuation at 31 March 2023 is represented by:

Freehold Computer
property equipment Totals
£    £    £   
Valuation in 2020 (1,628 ) - (1,628 )
Valuation in 2021 6,075 - 6,075
Valuation in 2023 33,500 - 33,500
Cost 76,553 1,488 78,041
114,500 1,488 115,988

Properties are required to be disclosed within the financial statements at fair value.

The valuation was made by directors on an open market value basis by reference to market evidence of transaction prices for similar properties. Deferred tax has been calculated on the revalued amounts and provided for within the financial statements.

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Other loans 16,340 21,634
Credit card - 197
Directors' current accounts 5,427 177
Accrued expenses 1,501 1,201
23,268 23,209

DV-OLA Properties Ltd (Registered number: 12273641)

Notes to the Financial Statements - continued
for the Period 1 November 2021 to 31 March 2023

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2021
£    £   
Mortgage 59,568 59,568

6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2021
£    £   
Mortgage 59,568 59,568

Creditors comprise a loan creditor of £59,568 which is secured by a mortgage deed in favour of the finance
provider by way of a legal mortgage over the company's freehold property.

7. RESERVES

PROFIT AND LOSS RESERVES
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

FAIR VALUE RESERVES
The Company uses the revaluation model for the measurement of its investment properties. The reserve records the revaluation surplus recognised less the related provision for deferred tax. This is a non distributable reserve.